Discover CEO Nelms Calm to Rewards Rush from Rivals
Discover's not worried about the increase of alternative payment companies offering hefty rewards in an attempt to cut into interchange revenue, Chairman and CEO David Nelms told investors on April 22.
David Nelms
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Until recently, Venus' approach to customer rewards was simple. It simply didn't have a program. more »
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American Express' joint travel venture may get delayed as it awaits regulatory approval, CFO Jeff Campbell told investors Jan 16. more »
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Corporate fleet card payments company WEX has renewed its card services partnership with the pest control company Rollins through December 2018. more »
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Wal-Mart Stores Inc. chose MasterCard Inc. to handle transactions for the merchant's store-branded credit cards, ending a nine-year relationship with Discover Financial Services. more »
Anand Krishnaswamy, vice president of mobile commerce at Equifax
Credit bureau Equifax Inc. is leveraging its trove of consumer data to streamline the purchasing process on the Web and mobile devices. more »
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U.S. Bancorp in Minneapolis is rebranding its payment cards for small businesses under the name "U.S. Bank Business Edge." more »
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Wal-Mart Stores Inc. sued Visa Inc. for allegedly conspiring to fix credit card transaction fees, according to a complaint filed March 25 in federal court in Fayetteville, Ark., the latest salvo in multi-year litigation fight between retailers and card companies. more »
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TSYS has signed a long-term agreement with Virgin Money to provide payment processing services for the retail bank's consumer credit card business. more »
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Breaking into the ultra-competitive credit card market requires time, money and creative thinking. Wells Fargo is behind on the first and isn't talking about the second, but is hoping that the third can make up the difference. more »
Image: Bloomberg News
PayPal is expanding a merchant credit program that uses payments data to vet borrowers and collect loans. more »
Credit Card penalties—like over-limit and late fees—are constitutional and do not violate consumers' due process rights, the Ninth Circuit U.S. Court of Appeals recently ruled. more »
Image: Bloomberg News
American Express Co. is seeking to broaden its customer base by offering its first no-fee credit product that grants holders access to all of the lender’s rewards programs. more »

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